...1. Is Eye Vision’s arrangement with Holland Hospital within the scope of ASC 985-605, Software: Revenue Recognition? In this case, the main content of the Eye Vision’s arrangement with Holland Hospital include embedded software medical equipment and an initial option to purchase a two-year separately priced maintenance agreement. In this case, because “Eye Vision has never sold, nor does it offer to sell, the Clear View Laser without the embedded software because the software is necessary to perform the medical procedures for which the laser is intended”, and “Eye Vision has never sold, nor does it offer to sell, the Clear View Laser without the embedded software because the software is necessary to perform the medical procedures for which the laser is intended”. So the software components and non software components of tangible product could be consider function together to deliver the tangible product’s essential functionality, so according the FASB codification 985-605-15-4 and 985-605-15-4A, the equipment and the software are excluded from the Software: Revenue Recognition., Accordingly, the initial option to purchase a two-year separately priced maintenance agreement on the Clear View would be non-software deliverables excluded from the scope of Software: Revenue Recognition. References from FASB codification ASC 985-605-15-4 The guidance in this Subtopic does not apply to the following transactions and activities: e. Software components of tangible products...
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...Eye Vision Inc, a long-standing medical device manufacturer, has signed a contract to sell Holland Hospital the Clear View Laser and a two-year separately priced maintenance plan for $1 million and $0.2 million respectively. On a when-and-if available bais, Eye Vision Inc. will provide software updats that is embedded with the Laser to maintainance purchasor. The software has never been sold without Laser for its functional necessity. In this memo, as explained below, we conclude that: 1. Eye Vision’s arrangement with Holland Hospital is not within the scope of ASC 985-605, Software: Revenue Recognition. 2. The deliverables in this arrangement are the Clear View Laser, embedded software, and maintenance plan, respectively. 3. The Clear View Laser together with embedded software and maintenance plan will be accounted for as separate units of accounting, respectively. 4. The laser with the embedded software will be recognized immediately. The maintenance plan will be recognized on a straight-line basis over the length of the contract. 1. Is Eye Vision's arrangement with Holland Hospital within the scope of ASC 985-605, Software: Revenue Recognition? The agreement between Eye Vision and Holland Hospital is not within the scope of ASC 985-605, Software: Revenue Recognition. According to ASC 985-605-15-4(e), subtopic ASC 985-605 does not apply to transactions and activities for "software components of tangible products that are sold, licensed, or leased...
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...Case #1 Eye Vision Inc. 1. Is Eye Vision’s arrangement with Holland Hospital within the scope of ASC 985-605, Software: Revenue Recognition? Eye Vision’s arrangement with Holland Hospital is not within the scope of ASC 985-605. According to the case, “Eye Vision has never sold, nor does it offer to sell, the Clear View Laser without the embedded software.” In fact, the case makes it readily apparent that the Clear View Laser will not function without its hardware specific software. ASU 2009-14 (Topic 985) states that, “if the software contained on the tangible product is essential to the tangible product’s functionality, the software is excluded from the scope of the software revenue guidance.” In its accounting guidance, the update states further that, “tangible products containing software components and non-software components that function together to deliver the tangible product’s essential functionality are no longer within the scope of the software revenue guidance in Subtopic 985-605. According to the case documentation, “ the software is necessary to perform the medical procedures for which the laser is intended.” This would imply that Eye Vision’s hardware/software product combination is not within the scope of ASC 985-605. As additional evidence, the amendment offers several illustrations as guidance. One example states that a rebuttable presumption exists if sales of the tangible product (Eye Vision laser) without the software elements are infrequent....
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...Case #1 Eye Vision Inc. 1. Is Eye Vision’s arrangement with Holland Hospital within the scope of ASC 985-605, Software: Revenue Recognition? Eye Vision’s arrangement with Holland Hospital is not within the scope of ASC 985-605. According to the case, “Eye Vision has never sold, nor does it offer to sell, the Clear View Laser without the embedded software.” In fact, the case makes it readily apparent that the Clear View Laser will not function without its hardware specific software. ASU 2009-14 (Topic 985) states that, “if the software contained on the tangible product is essential to the tangible product’s functionality, the software is excluded from the scope of the software revenue guidance.” In its accounting guidance, the update states further that, “tangible products containing software components and non-software components that function together to deliver the tangible product’s essential functionality are no longer within the scope of the software revenue guidance in Subtopic 985-605. According to the case documentation, “ the software is necessary to perform the medical procedures for which the laser is intended.” This would imply that Eye Vision’s hardware/software product combination is not within the scope of ASC 985-605. As additional evidence, the amendment offers several illustrations as guidance. One example states that a rebuttable presumption exists if sales of the tangible product (Eye Vision laser) without the software elements are infrequent....
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...About LASIK About LASIK surgery: LASIK is laser vision-correction in the blink of an eye . The ultimate solution to replacing contact lenses and spectacles. What is LASIK? LASIK stands for ‘Laser In-Situ Keratomileusis’ which means ‘ to shape the cornea within its layers with the use of the Excimer laser’. Hi-tech solution combining advanced computer technology with laser precision: LASIK is a skilled procedure that combines the state-of-the-art computer technology with advanced laser precision. While the earlier laser procedure viz PRK treated the surface of the cornea, LASIK treats the inner tissue of the cornea and restructures it in a manner which grains down myopia (minus power) and hypermetropia (plus power). LASIK Knowledge Centre: LASIK procedure -step-by-step: * First, the eye surgeon uses an instrument known as a microkeratome to make a thin flap of the outer layer of the cornea. * Then he folds back the flap, which remains attached on one side. * Next, he uses the cool laser light from the Excimer laser to ’ablate'‘ i.e. remove the pre-determined amount of tissue to reshape the cornea with great accuracy and corrects the individual's refractive error. * The cornea is made flatter to treat near-sightedness, and steeper to treat far-sightedness and/or more spherical to correct astigmatism. * Finally, after the laser is administered, he lays back the corneal flap in its original position, where it bonds itself instantly. * Due to...
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...Do you have any idea about quantum vision system? Well, if not here is the right place for you; this is a vision therapy program that was created by Dr.Kemp, actually this program is a step by guide that contains information on how to improve your vision permanently, this program provides some necessary information that are common with people with eye issues, there are a number of issues that are addressed by this program that will help you to deal with eye problems. Overview of the program. If you are tired of using lenses and glasses, then quantum vision program is here for you, simply because after using this program you will be able to get rid of the glasses and the lenses, more so, the program offers very essential information about the root causes and the common eye cases, in this case the remedy can easily be found simply because you have the root cause at hand, also you will be able to get some important information on how surgeries, glasses and lenses will affect your general vision in the long run and what to do as a far as the remedies are concerned, the good thing about this program is that it is very easy to follow since it’s a step by step guide that has got short instructional videos that will help you to deal with this issue, in this program you will be able to find information about eye nourishment, eye cleansing and effective exercises that can help to improve your vision. The program is really enjoyable simply because, you don’t have to struggle so...
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... Campaign to promote eye check up for Kids | | Dahisha Saint Franc | 12/2/2013 | | Case and Situation The vision council of America is a trade group representing the optical industry. Its 2 core membership groups are ophthalmologists, opticians and optometrists. The group has decided to launch a consumer education program after research reveals a reluctance to take children for eye exams because parents rely on free in-school screenings. Research shows that 80% of learning before age 12 is accomplished through vision, yet traditional in-school vision screening miss between 70 and 80% of children’s vision problems. Introduction Our PR firm was hired to organize a campaign that will educate the public about the importance of eye check up or consultation from a credible person such as an optician. Through research parents are reluctant to take their children to see an optician because they rely on in-school vision screening. Part of our campaign is to target the area where the problem is more persistent. For example through research our campaign will localize the target public such as parents and their income. Also the cause behind why parent depends on the in-school vision screening. Our mission or ultimate goal is to get more parents to bring their children to a professional eye doctor. In order to reach this goal, our campaign will display and go through different objectives. Problems The main problem in this case, is that parents are not taking...
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...in their skin, eyes or hair. This hereditary disease can be found in humans (affecting all races)( Hagen EAH, Houston GC, Hoffmann MB, Jeffery G and Morland AB, 2005),( Blachford SL, 2002). Individuals with albinism will have some form of vision difficulty,which could include nystagmus, refractive error, glare, and tropia.they are classified as being in the category of low vision beacuse of they have visual dysfunction(Wildsoet CF, Oswald PJ, Clark S, 2007)( Neveu MM, Holder GE, Sloper JJ, Jeffery G,2005). A survey by Omar and Fatin who state that albinos had most difficulties when they...
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...GROUP CASE 10-1 1. From the documents of "Deliverables" on blackboards, although the words “deliverable” did not have a clear definition, there are lots of potential deliverables that entities may considering. We can find that in the case 10-1 SolvGen Inc., the selling of proprietary instrument systems, which is under the five-year license and distribution agreement, is a deliverable. From the case we know that Careway will have the right to market and distribute the proprietary instrument systems and pay SolvGen for each proprietary instrument system in the future. The five-year license and distribution agreement requires Careway to pay SolvGen for each proprietary instrument system when it is purchased by Careway. A deliverable must have objective value on a stand-alone basis. The five-year research and development agreement doesn't have a deliverable because it's integrated with the five-year license and distribution agreement and doesn't have a stand-alone value. According to FASB ASC 605-25, it's not a deliverable. 2. According to FASB Statement of Financial Accounting Concepts(CON) 5,Recognition and Meaurement in Financial Statements of Business Enterprises, revenue is considered “earned” if an entity has substantially accomplished what it must do to be entitled to the contractual benefits. Revenue is “realizable” when related assets received are readily convertible to cash or claims to cash. In this case, SolvGen should recognize the nonrefundable milestone...
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...622 JT 1990 (4) 794 ACT: Industrial Disputes Act, 1947: Sections 2(00) & 25-F. Retrenchment--State Road Transport Corporation--Drivers--Occupational hazards Development of defective, weak or sub-normal eye-sight in the course of employment--Pre-mature termination of services--Held termi- nation was not retrenchment and consequent compliance with section 25-F not necessary--But termination held unjustified and inequitable--Scheme formulated by the Supreme Court.for relief to drivers--Directions for giving retirement bene- fits, providing alternative jobs and payment of compensatory amount proportionate to length of service rendered by the drivers. Retrenchment--Exceptions--Section 2(00) sub-clause (c)--Expression "continued ill-health"--Meaning and Scope of--Includes cases of drivers who have developed defective or sub-normal vision during the course of employment. Employees' State Insurance Act, 1948: Section 2(8)--Second Schedule--Part I--Item 4 Part II--Items 31,32 and 32A--Third Schedule--Item 11. Indian Kanoon - http://indiankanoon.org/doc/1727786/ 1 Anand Bihari And Ors vs Rajasthan State Road Transport ... on 20 December, 1990 State Road Transport Corporation--Drivers--Development of sub-normal eye-sight or loss of required vision during the course of...
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...20 years of age. Here, we report a case of 54 years female presenting with decreased a single floater occasionally obscuring vision in her left eye since 15 days. She denies any history of diminution of vision, redness, trauma , flashes or past ocular surgery. She has no history of Diabetes ,hypertension or any other chronic illness for which she has been treated or is receiving treatment. BCVA is 6/6 in both eye. Intraocular pressure was 18 and 16 mmHg. Anterior segment findings were...
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...Age-Related Macular Degeneration By Connie Goldsmith, RN, BSN, MPA Changes in vision occur throughout our lives. Some young people need glasses for driving or watching movies. Others wbo enjoy perfect vision until they reach middle age discover they require reading glasses. Many people must wear bifocals or trifocals to obtain the best vision at every distance. However, these problems are minor irritations compared to the loss of vision caused by a common agerelated disorder. Painlessly and insidiously, age-related macular degeneration (AMD) affects an estimated 10 million Americans.' It's the most common cause of vision loss and blindness in people over 65, and it can affect people at younger ages as well.' The risk of developing AMD steadily increases with age. People in their 50s bave about a 2% chance of developing it, while the risk rises to nearly 30% in those over age 75.^ Every three minutes, another case of AMD is diagnosed in the US.^ Each year, 200,000 people with AMD lose all central vision in one or both eyes.' More people than ever before will be forced to live with AMD as the baby boomer generation continues to grow older. This article reviews the anatomy and function of the normal retina. It also identifies tbe risk factors for AMD and its causes, as well as its diagnosis and treatment. A diagnosis of AMD means a significant decrease in vision, and, in some cases, complete blindness. Because patients face important concerns related to their...
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...A weak eye muscle can result in double vision. This causes you to see multiple images instead of one. Double vision can sometimes be corrected with the help of glasses or an eye patch, however, more extreme cases require eye muscle repair surgery. After the surgery is complete it is important to keep your eyes protected from bacteria and other contaminants that can cause infection. During this time, your eyes are more susceptible to damage because they are weaker. Luckily, there are a few tips you can use to ensure that your eyes remain infection free after eye muscle repair surgery. Wear an Eye Patch An eye patch is typically used to correct vision problems, however, it can also be used to protect your eyes during your recovery process....
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...take a look at eye health. Eye health is as often as possible neglected and seen as an issue once some individual grasps their eye flourishing is not set up. Our eyes are an essential for our body. Our eyes have key parts: cornea, iris, understudy, inspiration driving joining, retina, and photosensitive tissue. The cornea is wear light passes; it refracts the advancing toward light from our eyes. The iris is the bit of that eye that has shading, it manages the measure of light and the level of the understudy. The understudy is the sensible piece of the eyes where the shade of your eyes are; the understudy controls the measure of light that enters. The retina holds the photoreceptor cell it changes over light into electrical signs,...
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...Glaucoma is characterised as a group of diseases that causes the optic nerve damage and can result in vision loss and even blindness. The major features of these different diseases that grouped together make up glaucoma include: cupping and atrophy of the optic nerve head, loss of visual field, and increased intraocular pressure (Thylefors). The discovery and symptoms of Glaucoma date back to the 17th century (Facts about Glaucoma). Glaucoma has been known for it’s characteristic of blindness since the 19th century. The first description of glaucoma was given by the French Dr Antoine-Pierre Demours in 1818. Dr G.J Guthrie later recognizes hardening of the eye as a common characteristic of the disease he named Glaucoma. Dr William McKenzie...
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